closed-750x390 Government Shutdown

The shutdown of the United States Government began at midnight EST on Saturday, December 22nd, 2018 and is now the longest shutdown in US history. This is having an impact on many sectors but one being watched closely by the mobility industry is the impact on mortgages.

 

Below are some of the effects the shutdown has had:

A January 2019 National Association of Realtors survey of 2,211 members found 75 percent had no impact to their contract signings or closings. However, 11 percent did report an impact on current clients and 11 percent on potential clients.

The most common impact, at 25 percent, was the buyer decided not to buy due to general economic uncertainty, though they were not a federal government employee.  Among those impacted by the shutdown, 17 percent had a closing delay because of a USDA loan.

Please feel free to reach out to your CRI Client Services representative if you have any further